Cybersecurity & InfoSec

On why KYC is meaningless

"One of the most significant findings was announced last month, as 37 were arrested with the announcement that 850,000 money mule accounts (8.5 Lakh) had been opened at 743 bank branches. That announcement pointed out a total disregard for KYC (India calls it Customer Due Diligence) and widespread failure to file STRs (Suspicious Transaction Reports.)”

On why KYC is meaningless

"One of the most significant findings was announced last month, as 37 were arrested with the announcement that 850,000 money mule accounts (8.5 Lakh) had been opened at 743 bank branches. That announcement pointed out a total disregard for KYC (India calls it Customer Due Diligence) and widespread failure to file STRs (Suspicious Transaction Reports.)”

https://garwarner.blogspot.com/2025/08/operation-chakra-v-call-center-scammers.html